Chase Ink Business Preferred Credit Card Review: Is It the Best Business Credit Card?
Chase Ink Business Preferred Credit Card Review: Is It the Best Business Credit Card?
The Ink Business Preferred® Credit Card is a great card for business owners who have a lot of expenses and travel often. If you maximize the card's bonus on business purchases, you can earn at least $5,625 in travel through the Chase travel portal, easily covering the $95 annual fee.
Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more. Citi is an advertising partner.
Quick facts
More details
Rates & fees
- Credit needed: 720 - 850
- Sign-up bonus: Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
- Earning rate: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
- Annual fee: $95
- Foreign transaction fee: $0
Quick facts
- Credit needed: 720 - 850
- Sign-up bonus: Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
- Earning rate: Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
- Annual fee: $95
- Foreign transaction fee: $0
More details
- Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®
- Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
- Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards®
- Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
- Member FDIC
Rates & fees
- Intro Purchase APR: N/A
- Regular Purchase APR: 20.99% to 25.99% Variable
- Intro BT APR: N/A
- Regular BT APR: 20.99% to 25.99% Variable
- Annual Fee: $95
- Foreign Transaction Fee: $0
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
Pros
Cons
For true earning and redeeming versatility, the Ink Business Preferred® Credit Card by Chase is one of the top picks for small businesses. This card earns rewards through the Chase Ultimate Rewards® program, providing a seemingly endless amount of award options. Whether you’re looking to mitigate your travel expenses or just want pure cash back, owning the Ink Business Preferred® Credit Card could be one of the smartest financial decisions for your company.
Although it comes with a $95 annual fee, you’ll be surprised at how many benefits this card offers. And by reaching the spending limit of the sign-up bonus — worth $1,250 in Ultimate Rewards travel — you should have no problem finding lasting value with the Ink Business Preferred® Credit Card.
The information related to the American Express® Business Gold Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
Is the Ink Business Preferred® Credit Card worth it?
First Year Savings
$2,327 ?
The Ink Business Preferred® Credit Card is well worth it for most small business owners, especially in its first year. Between its sign-up bonus and ongoing rewards, the average cardholder can get around $2,000 in value according to our estimates.
Review: Our thoughts on the Ink Business Preferred® Credit Card
Regardless of your business, chances are you have tons of operating expenses. From advertising and marketing expenses to office supplies, the Ink Business Preferred® Credit Card rewards you richly for common business expenses. Compared to other business cards out there, the Ink Business Preferred® Credit Card wins for its solid rewards rate on various purchase categories.
It also offers a fantastic sign-up bonus:
Cardholders will Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening.
That's worth approximately $1,250 toward travel rewards when redeemed through the Chase Ultimate Rewards® portal. If you qualify for this bonus, it’s enough to cover your annual fee for well over 10 years.
Ink Business Preferred® Credit Card benefits and features
Beyond the short-term value of a high sign-up bonus, the Ink Business Preferred® Credit Card is a well-rounded card that offers a good rewards structure and valuable travel benefits.
Earning rewards
The Ink Business Preferred® Credit Card's users Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year. Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Since we value Ultimate Rewards points at roughly 2 cents each, we estimate that the average cardholder can earn around 2.3 cents in rewards for every dollar spent with this card — an excellent return. If your business can reach this $150,000 spending limit annually, you’re potentially looking at around $3,450 in rewards travel from the bonus category alone.
Redeeming rewards
The flexibility of the Chase Ultimate Rewards® program is a huge selling point for the Ink Business Preferred® Credit Card.
You can redeem your points for travel through Chase Ultimate Rewards® to earn a 25% bonus. For example, the card's sign-up bonus is worth $1,250 toward travel expenses. You’ll be able to use your points on most rental cars, hotel stays and flights — offering a ton of savings opportunities on business travel.
Redemption | Points value |
|---|---|
| Book travel via the Chase Ultimate Rewards Portal | 1.25 cents |
| Transfer points to travel partners at a 1:1 ratio | ~2 cents |
| Use points at Apple Ultimate Rewards store | 1 cent |
| Redeem points for 150+ gift cards | 1 cent |
| Redeem points for cash back | 1 cent |
You can get an even better return on your points (around 2 cents on average) by transferring them at a 1:1 ratio to one of Chase's 14 loyalty program partners — 11 airline and three hotel partners. These partners include some popular domestic airlines, such as Southwest Airlines and United Airlines, as well as many international options:
- Aer Lingus AerClub
- Air Canada Aeroplan
- British Airways Executive Club
- Emirates Skywards®
- Flying Blue Air France KLM
- Iberia Plus
- JetBlue TrueBlue
- Singapore Airlines KrisFlyer
- Southwest Airlines Rapid Rewards®
- United MileagePlus®
- Virgin Atlantic Flying Club
- IHG® Rewards Club
- Marriott Bonvoy™
- World of Hyatt
Business management tools
Besides earning rewards, the Ink Business Preferred® Credit Card comes with the necessary tools to help you stay on top of your business’ finances. You’ll receive account details, quarterly reports and other valuable insights into your business, helping you manage your cash flow and track your expenses. You’ll also be able to hand out up to 99 employee cards to your Ink Business Preferred® Credit Card at no additional cost.
Travel and purchase coverage
Finally, the Ink Business Preferred® Credit Card comes with a great set of travel and purchase protections, including trip cancellation insurance and primary car rental protection. Although you’re unlikely to use these benefits day to day, these protections can potentially save you thousands of dollars in the event of an emergency.
Coverage | Coverage amount |
|---|---|
| Trip cancellation and interruption insurance | Reimbursement of up to $5,000 per person and $10,000 paper trip for a covered reason on your prepaid, nonrefundable travel expenses. |
| Roadside assistance | Call 1-800-847-2869 in the event of a roadside emergency — service fees will be billed to your card. |
| Car rental insurance | Primary coverage when renting a car for business purposes, providing reimbursement for theft and collision damage for most cars in the U.S. and abroad. |
| Cell phone protection | Reimbursement of up to $600 per claim on cellphone theft and damage (with a $100 deductible) when paying your cell phone bill with this card. Maximum of three claims in a 12-month period. |
| Purchase protection | Provides coverage on new purchases for 120 days against damage and theft, up to $10,000 per claim and $50,000 per account. |
| Extended warranty protection | Extends a U.S. manufacturer’s warranty by an additional year on eligible warranties three years or less. |
| $0 foreign transaction fees | When traveling and making purchases abroad, enjoy $0 foreign transaction fees. |
Cons of the Ink Business Preferred® Credit Card
Although the Ink Business Preferred® Credit Card is a valuable card to have for many business owners, it might not be the best for every business for a few reasons.
The Ink Business Preferred® Credit Card has a steep spending requirement for its sign-up bonus, which may be out of reach for small business owners or sole proprietors who don't have many expenses. If you don't have at least $5,000 in monthly expenses, you should search for a business card with a sign-up bonus that won't put you over budget.
The card's bonus earnings are limited to your first $150,000 in purchases each year. If you're likely to spend over this, you should consider cards that don't put a cap on your earnings. For instance, the Capital One Spark Miles for Business lets you earn 2 Miles per $1 on every purchase, everywhere.
The Ink Business Preferred® Credit Card doesn't include a 0% period for new purchases. If you carry a balance with this card, you'll face a high APR of 20.99% to 25.99% Variable. If you want to finance a new purchase for your business, you should check out the Chase Ink Business Cash® Credit Card — it offers a long intro APR and a more reasonable ongoing APR.
How does the Ink Business Preferred® Credit Card compare to other business credit cards?
We handpicked some of the leading business credit cards to see how the Ink Business Preferred® Credit Card stacks up against the competition.
View more cards
Ink Business Preferred® Credit Card vs. Ink Business Cash® Credit Card
Chase’s $0-annual-fee option — the Ink Business Cash® Credit Card — may be a better fit if your business has relatively low expenses, especially if you prefer earning cash back. Having a $0 annual fee means you never have to worry about this card being a net loss in terms of rewards. You’ll Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
Pros
Cons
Ink Business Preferred® Credit Card vs. American Express® Business Gold Card
The American Express® Business Gold Card offers a welcome offer that's easier to earn and an even higher rate on business purchases than the Ink Business Preferred® Credit Card. You’ll Get 4X Membership Rewards® points on the 2 select categories where your business spent the most each month*. It’s a American Express® Business Gold Card perk that does the extra work for you. These categories include:
- Directly purchased airfare
- U.S. purchases for advertising in select media (online, TV, radio)
- U.S. purchases made directly from select technology providers of computer hardware, software, and cloud solutions
- U.S. gas station purchases
- U.S. restaurant purchases, including takeout and delivery
- U.S. shipping purchases
Like the Ink Business Preferred® Credit Card, these bonus points are capped at the first $150,000 in combined purchases from these two categories each calendar year. All other purchases earn 1 point per dollar. You’ll earn Membership Rewards points that can also transfer mostly at a 1:1 ratio to American Express’ travel partners. The American Express® Business Gold Card does come with a high $295 annual fee. But you can easily make up that fee with your rewards earnings, if you spend heavily in any of the card's categories.
Pros
Cons
Ink Business Preferred® Credit Card vs. Capital One Spark Miles for Business
If you want a card with a simpler rewards rate or you're thinking of applying for TSA PreCheck or Global Entry, the Capital One Spark Miles for Business could be the better way to go. This card is best for businesses who don’t want to keep track of bonus points or have an extensive range of expenses, encompassing multiple categories. With the Capital One Spark Miles for Business, you’ll get unlimited 2 Miles per $1 on every purchase, everywhere with your business credit card with no blackouts or seat restrictions and no minimum to redeem.
It also offers an easy-to-earn sign-up bonus: Earn a one-time bonus of 50,000 miles – equal to $500 in travel – once you spend $4,500 on purchases within the first 3 months from account opening. And it gives you up to $100 toward your Global Entry or TSA PreCheck application.
Pros
Cons
Should you apply for the Ink Business Preferred® Credit Card?
The Ink Business Preferred® Credit Card is best for business owners who travel frequently and spend at least $150,000 in shipping, online advertising, internet and travel per year to maximize your points.
If you don't spend as much or don't travel a lot for business, a cash back credit card like the Ink Business Cash® Credit Card might be a better fit.
The information related to Ink Business Preferred® Credit Card, Ink Business Cash® Credit Card and American Express® Business Gold Card has been independently collected by ValuePenguin and has not been reviewed or provided by the issuer of this card prior to publication.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
These responses are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
Advertiser Disclosure: The products that appear on this site may be from companies from which ValuePenguin receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). ValuePenguin does not include all financial institutions or all products offered available in the marketplace.
How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.
Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).